MasterBrand, Inc. (NYSE:MBC) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,419 shares of the company’s stock after acquiring an additional 1,841 shares during the quarter. HighTower Advisors LLC’s holdings in MasterBrand were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MBC. Vestcor Inc grew its position in MasterBrand by 329.0% during the third quarter. Vestcor Inc now owns 40,815 shares of the company’s stock valued at $757,000 after buying an additional 31,300 shares during the period. Empowered Funds LLC boosted its stake in shares of MasterBrand by 5.1% during the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after acquiring an additional 31,714 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MasterBrand by 18.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock valued at $38,799,000 after acquiring an additional 330,874 shares during the period. Barclays PLC increased its stake in shares of MasterBrand by 262.4% in the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after purchasing an additional 169,550 shares in the last quarter. Finally, Atom Investors LP acquired a new position in MasterBrand in the 3rd quarter worth about $600,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Price Performance

MasterBrand stock opened at $13.08 on Monday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 13.48 and a beta of 1.77. The company’s fifty day moving average price is $15.24 and its 200 day moving average price is $16.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.17). The company had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand announced that its board has approved a share buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was acquired at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the acquisition, the director now directly owns 33,424 shares of the company’s stock, valued at $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares of the company’s stock, valued at approximately $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Loop Capital dropped their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th.

About MasterBrand

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.